BASICS
* spot gold It remained stable at $2,657.13 per ounce, at 0034 GMT. Bullion was on track for a weekly decline, after three consecutive weekly gains.
* US gold futures fell 0.1% to $2,676.70.
* Data on Thursday showed U.S. service sector activity jumped to a 1-1/2-year high in September amid strong growth in new orders, although its measure of services employment fell, consistent with a slowdown in the labor market. *Also, initial unemployment claims Figures showed that the number of Americans filing new claims for unemployment benefits rose slightly more than expected last week.
* Expectations for a 25 basis point cut at the Fed’s November meeting rose slightly to a 69% chance after the recent data. Meanwhile, there is a 31% chance of a 50bp cut, according to CME’s FedWatch tool.
* Bullion is considered a safe investment in times of political and financial uncertainty, and thrives in a low rate environment.
* Israel’s military told residents of more than 20 cities in southern Lebanon to evacuate their homes immediately on Thursday, as it continued its cross-border incursion and attacked Iranian-backed Hezbollah targets in a Beirut suburb.
* Market attention will now focus on US non-farm payrolls data due at 1230 GMT. New York Fed President John Williams and Chicago Fed President Austan are also scheduled to speak later in the day.
* Spot silver fell 0.1% to $32.03 an ounce and is up about 1.2% so far this week.
* Platinum gained 0.4% to $994.30 and palladium rose 0.5% to $1,005.25. Both metals were set to suffer weekly declines.
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